Khadim India Ltd lists on bourses tomorrow

Footwear retailer Khadim India will list on Exchange on Tuesday, 13 November 2017, following the conclusion of its Rs. 543 cr OPO offer last week.

Khadim India’s IPO was subscribed 1.90 times during 2 Nov to 6th. The price band for the IPO was fixed at Rs. 745-750 per share. The offer comprised fresh issue of equity shares aggregating up to Rs. 50 crore, besides an OFS of up to 65,74,093 shares by existing shareholders.

The net proceeds from the issue are to be used towards payment of loans and general corporate needs. Axis Capital & IDFC Bank were the lead managers to the issue.

Bharat-22 ETF to raise Rs 8000 Cr.

The government will start the 'Bharat 22' ETF (Exchange Traded Fund), managed by ICICI Prudential MF, to garner about Rs 8000 cr. As per statement, the new fund offer will open for anchor investors on Nov 14 2017, whereas subscription for retail investors will launch from Nov 15 and continue till Nov 17.

Bharat-22 ETF consists of 22 scrips of public sector units, banks and companies in which the govt holds a minority stake.  It is a good opportunity for investors to play a part in some of the best entities with high future growth potential.

The state-owned companies or PSUs that are part of the new ETF are IOCL, ONGC, BPCL, SBI, Coal India Ltd and Nalco.  The other Central PSUs on the list are Bharat Electronics, Engineers India, NTPC, NBCC, SJVNL, NHPC, PGCIL, GAIL India and NLC India.

The govt is expected to fetch an initial amount of Rs. 8,000 cr from the Bharat-22 ETF. ICICI Prudential MF has already filed docs for the new ETF with markets regulator Sebi.

Mahindra Logistics settles tepid on stock market debut

Shares of Mahindra Logistics, a subsidiary of Mahindra & Mahindra, made a tepid debut in stock market on Friday. The stock settled at Rs 429.15 on BSE, nearly flat in comparison with its issue price of Rs 429 on its debut on the Exchange on Friday, 10 Nov, 2017. 

The stock hit an intraday low of Rs. 416.55 per share, down by nearly 4%t and an intraday high of Rs. 433.95 /share, higher by 0.45% on BSE in Friday’s trade. The stock closed at Rs. 429.15 per share, higher by 0.03% from its previous close on BSE.